Canaan To Invest $8-10 Million Over The Life Of Indian Company

Sahad PV

Jun. 7, 2006 - 9:06 PM PST
Jun. 7, 2006 - 9:06 PM PST

Here is some update on Canaan Partners from VentureWire Market Summary that comes to my inbox daily: “Canaan plans to invest in two to five start-ups a year from its $450 million Fund VII, which closed in April,” VW quoted Canaan partner Deepak Kamra as saying. Canaan will invest about $8 million to $10 million over the life of the Indian company, compared to $10 million to $12 million in U.S. companies.
Canaan has just opened its India office in Gurgaon near Delhi. Alok Mittal will be the partner who is in charge of the office. So its Gurgaon office will nurture young companies in a similar way as it does in the U.S. “Our early-stage Indian strategy requires actively working on behalf of our startups,” said Kamra. “So having a local presence in India is a must.” Kamra also said that its India office will grow to outrival its California HQ one day. Way to go!Related:
–VC Fund Canaan Partners Opens Office In India; Deepak Kamra, Alok Mittal Partners